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RESMED Inc. Announces Results for the Fourth Quarter and Fiscal Year 2014
Date:7/31/2014

91,960

90,720

349,495

324,840Diluted shares outstanding

143,086

146,115

144,359

146,410GAAP diluted earnings per share

$0.61

$0.50

$2.39

$2.10Non-GAAP diluted earnings per share (excluding the impact of the restructuring, education, research and settlement expenses)

$0.64

$0.62

$2.42

$2.22 

(A) 

The restructuring expenses relate to discrete employee termination benefits associated with the reorganization of our commercial and research and development teams. Management excludes restructuring activities from its evaluation of ongoing operations and believe investors benefit from excluding these charges to facilitate a more meaningful evaluation of current operating performance.(B) 

The education, research and settlement charge relates to an agreement reached with the University of Sydney, in the fourth quarter of fiscal year 2013, to pay A$25 million (US$24.8 million) for the establishment of two perpetual academic chairs, the funding of future research in the fields of sleep medicine and biomedical engineering and the settlement of legal proceedings between the parties.ResMed believes that presenting diluted earnings per share, excluding the impact of the charge for the restructuring, education, research and settlement e
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SOURCE ResMed Inc.
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